Avalon hits new high of $2,436 psf

The Avalon with a estate in perpetuity tenure along Anderson Road, in District ten off Stevens Road , topped the price chart among the condos transacted, triumping the record price high between July 18 and 21. the sale of the 3rd floor three bedroom unit with size of 1,765 sq ft was sold for $4.3 million, or $2,436 psf on July 19. This deal brokered sucessfully, break the record psf price and set a new benchmark of the $2,400 psf limit, surpassing the previous high of $2,338 psf set in November 2K22 when a 1,668 sq ft unit changed hands for $3.9 million. URA caveats lodged shows that the unit was previously purchased by the current owner for $2.46 million ($1,394 psf) in April 2K16 which translates to a capital gain of $1.84 million (75%) on the transaction. CapitaLand was the developer for Avalon condominium. The development which comprises of 82 residential dwellings and two blocks of 10-storey tower was completed in 1999. Typical units comprise two-, three- and four-bedders between 958 and 2,292 sq ft. There are also four penthouse units between 4,122 and 5,220 sq ft. The resale volume is volume over the past many years until recently on July 19, when the 3 bedder unit is sold at the development to date this year. only three units were transacted in 2K22, while four units were transacted previous year. Avalon resales price rose steadily and gradually over the last few years as most owners are emotionally attached to the property. Reliable source revealed that median transaction price at the development have risen from $1,871 psf in 2020 to $2,436 psf as of 2K23, acceleration of 30%.

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